FAQ: Answers To The Most Asked Questions - Start Here

FAQ: Answers To The Most Asked Questions - Start Here

This post will contain a constantly evolving list of frequently asked questions and topics for help or information. If you have a question, check here to see if has already been answered, or if there is an existing topic that you can build upon.

This is just a quick skim to get it started, so there is room for a lot more topics and posts to be noted here. If you notice a question or topic that would be helpful to be included, or link that should be added to an existing topic, please post the question/topic and links. Smiling

**** NOTE: If you have a question, do not post it in this topic. It will be deleted. Post a new topic for any additional questions. Replies in this forum are limited ONLY to suggesting new links to add or questions (based on repeated requests in the forums) to this list. Thanks!

**** NOTE: If you have a question or problem using a product or service, need login information, have billing questions or any other question regarding a purchase... DO NOT post your issues here or in the forums. You must contact the support team here, these issues are not handled in the forum:
Support Team: http://www.deangraziosi.com/support

Some people have had incredible success by getting others involved. It allows them to divide and conquer, share resources and split costs. We have a great way for you to pass along the life changing opportunity to others in less than five minutes... Worst case scenario - you have extra cash for telling people about us. Best case scenario - you have a small team of like minded people to expedite your investing dreams!
Check it out: http://www.deangraziosi.com/content/just-launched-deans-friends-and-fami...

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www.twitter.com/deangraziosi

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Getting Started:
http://www.deangraziosi.com/node/61
http://www.deangraziosi.com/node/1509
http://www.deangraziosi.com/node/2455

Reassignment:
http://www.deangraziosi.com/node/2022
http://www.deangraziosi.com/node/42
http://www.deangraziosi.com/node/1393

LLC/Company:
http://www.deangraziosi.com/node/927
http://www.deangraziosi.com/node/2126

Short Sales:
http://www.deangraziosi.com/node/655

__________________


REO seller financing?

Is it possible for a bank to give seller financing for one of it's REO's?
Maybe giving a different bank a mortgage for 80% of the REO and have the bank who is selling the REO do seller financing for the remaining 20%.

Maybe a very silly question,
Michael


How to find foreclosures.

Foreclosures.com and Zillow.com may be good places to find foreclosures.


better late than never

Hi all. This is my first post even though I joined a long time ago. Still learning the ins and outs of this site. Hope I'm doing this right. I was defintiely one of those who let fear keep them from acting. I am a member of the academy and have just ordered and watched all of the student "Empowering Conversations" Awesome!!! It is the push I needed, plus I now have a partner who is totally on board with me. We've been out looking for deals and have found there are LOTS of them....at least here in NWA. The biggest hurdle I have is finding investors. And the banks here will not even look at a contract unless there is proof of cash funds. Anyone out there have any suggestions for us?


read this thread

there are some links to funding...

http://www.deangraziosi.com/real-estate-forums/financing-and-credit/3334...

wishing you success,

valerie

__________________

Valerie

“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss

"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown

My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...


would you sell your own home? selling my terms

Hello as an investor, would you consider selling your own home with a modest down payment and have the buyer take over your payments?
will there be consequences for me down the road


Finding Investors

ibdkcsa wrote:
Hi all. This is my first post even though I joined a long time ago. Still learning the ins and outs of this site. Hope I'm doing this right. I was definitely one of those who let fear keep them from acting. I am a member of the academy and have just ordered and watched all of the student "Empowering Conversations" Awesome!!! It is the push I needed, plus I now have a partner who is totally on board with me. We've been out looking for deals and have found there are LOTS of them....at least here in NWA. The biggest hurdle I have is finding investors. And the banks here will not even look at a contract unless there is proof of cash funds. Anyone out there have any suggestions for us?

You stated that the deals are plenty but investors are not. I am assuming you need financial backing to either partner with you or you want to assign the deal. In either case if you can't find the investors even with the advice of the academy then what are they telling you to do? I know I ran some craigslist ghost ads and that worked great. I also met some at RE club meetings and another at an auction. For me, that's been the easy part. The deals,,mmmmm, not so much.

Steve

__________________

"Do something you LOVE and you will never work another day in your life."
"Nothing can ever stop you without your permission."
"So long as you haven't quit, then you haven't lost."


Thanks for your support.

Anita, It's great to know that we have such great support!


Cheers Everyone

Just wanted to say I have purchaced property 10 years ago and I know it has been a blessing for now and the future.I am currantly working a full time jobat which I am wanting to do something differant,so i am in the process of reading Deans book to get some more wisdom before I jump in. Its nice to read your comments and incouragements.


Another question....

Hi DG family. I have a question. I just finished reading DG's book and going to start reading it again. It was great, and I'm trying to soak up all the excellent info in my brain now. I'm just a bit confused w/ some stuff. If I were in a situation where I wanted to try the no money down strategy, like say for instance, I had a seller who wanted to sell his house for $75,000. I inspect it and see that it needs at least $15,000 work etc. I offer him $50,000, and he accepts. Now lets say I already have a buyer who's interested in buying a cheap home. I tell the interested buyer that I have a home for him for $60,000. Before I sign that contract w/ the seller isn't he going to want to see proof That I have the funds to purchase the home? See the problem here is that dying to make my first deal(after reading again and again)but I'm still working on my credit and I only have $15,000 max at this time to invest. Do you think that I should start looking for a hard money lender? I really appreciate all the support and info everyone on the site has been giving me. Everyday I feel more and more knowledgeable and confident.


Getting started

Hi Anita, my name is Clifton and this is my first experience with any thing to do with real estate.I would appreciate any advice you could give me on how to get started and any thing i shouldnt waste my time doing.


newbie

I just dont know were to start,can somebody please share some info on how i would find my first sale. And were to look in upstate ny do i look arond my neiborhood.


Land Trust

I recently heard that it might be possible to purchase investment property through a Land Trust. Does anyone have information on this?


Where to start

For those of you who are new to the site: please search the forum for answers to your basic questions. They have no doubt been answered before, numerous times. To do a search, type it in the box at the top left of any screen and hit enter. Don't try to click the magnifying glass, it's just for show.

If you haven't read the forum or read any of Dean's books yet, then you need to start there. Smiling

__________________

"Persistence Pays, Procrastination Delays!" - smurfy

"I can do ALL things through Christ who strengthens me." - Philippians 4:13

"He will keep in perfect peace whose mind is stayed on thee" Isaiah 26:3

"Those who wait on the LORD Shall renew their strength; they shall mount up with wings like eagles, they shall run and not be weary, they shall walk and not faint." Isaiah 40:31

View my journal here: http://www.deangraziosi.com/real-estate-forums/investing-journals/59850/...


Legal and binding

Hi,

I live in Southern New Jersey and I need to speak with someone here from the area on how to do legal no money out of pocket deals without a real estate agent. Does anyone from NJ know if Assignment contracts are legal in the state of NJ, and is it possible to start doing business without having to pay a lawyer out of pocket right away starting out to legalize the documents needed? Does anyone have any contracts that are already legal in the state of NJ that are needed for and/or assigns or double closes that I can start with that anyone can send me?

Steve B

P.S. Of course when I get some deals and have money then I can get my own Real Estate attorney. This is all just to get started.


Location

To be exact, I live in Cherry Hill, Camden County.

Steve B


I am a newbie also

I have read two of deans books and I am so excited about every thing I have learned I have been getting right up out of bed at 5:00 every morning just so I can get on the DG site and learn more.I live in a small town in ny with not many buyers so I am really scared to take my first step.I hope I am posting in the right place it's my first time Sorry if I'm not.


documents

does the purchase agreement has to be in legal size paper? or can it be on letter size?

__________________

JMF some call it insanity, I call it persistance.... ME


The Book

hi all... how long after reading Profit from Real Estate Now do you start making money?


NY

Hi, My name is Brenda I am from a small town in New York state . I am new at all this .I would like to chat with others from North Eastern NY,or near there you can pm me thanks.
Thanks,
Brenda S


NJ

I also would like to speak with someone from the Cherry Hill, Southern New Jersey area. I am new at all this like racingmom43 from NY is as well. Please, if you live in the Southern NJ area, please send me a PM. Thank you.

Sincerely,

Steve B


Looking for local successful Dean Graziosi student to talk with

Hello,

We are Bill and Patt Condiotti. We live in Tustin, Ca.

We are looking for a local person to connect with to help with a bit
of mentorship.

I believe there is a gentleman in Irvine, Ca. that we have seen
in some of your information.

Thank you,
The Condiotti's


advice??

I completed Dean's Success Academy 2009 and purchased 4 properties in the Fort Myers, Florida area and have tenants. My husband and I live in Rochester, New York, but want to live in Florida someday. With my husband's blessing, I will quit my private school teaching job (with NO RETIREMENT) and focus on real estate investing...though I will not have the steady income flow, my mental health will be protected as the daily stress can take it's toll! My husband supports this change 100%. Here is what I did 4 months ago. I began studying (online course) for my Florida Real Estate license thinking that the knowledge and understanding would help my future investments. As I am spending today reviewing before I take the online course test for the certification needed to take the state test...I got an epiphany...A question appeared that required an answer...Will having my real estate license actually help me or...ultimately, could having it potentially hurt me with the strict "can't do's" I am learning exist for licensees and brokers...(ie blind ads are illegal for real estate licensees and brokers)...I don't know what to do?? Am I better having my license...or better not having it and work with one when needed???
I intend on telephoning the Sucess Academy Tuesday (taking the day off of work)to talk about this with a consultant. I would LOVE to learn what any of Dean's students or facilatators think.

__________________

I am, and always will be, both a student and a teacher. My mission is to earn in order to help people find homes they can afford to both maintain and enjoy.


License Vs. No License

Miss Tish wrote:
I completed Dean's Success Academy 2009 and purchased 4 properties in the Fort Myers, Florida area and have tenants. My husband and I live in Rochester, New York, but want to live in Florida someday. With my husband's blessing, I will quit my private school teaching job (with NO RETIREMENT) and focus on real estate investing...though I will not have the steady income flow, my mental health will be protected as the daily stress can take it's toll! My husband supports this change 100%. Here is what I did 4 months ago. I began studying (online course) for my Florida Real Estate license thinking that the knowledge and understanding would help my future investments. As I am spending today reviewing before I take the online course test for the certification needed to take the state test...I got an epiphany...A question appeared that required an answer...Will having my real estate license actually help me or...ultimately, could having it potentially hurt me with the strict "can't do's" I am learning exist for licensees and brokers...(ie blind ads are illegal for real estate licensees and brokers)...I don't know what to do?? Am I better having my license...or better not having it and work with one when needed???
I intend on telephoning the Sucess Academy Tuesday (taking the day off of work)to talk about this with a consultant. I would LOVE to learn what any of Dean's students or facilatators think.

Hi Tish

I have heard from a number of investors in my area (Seattle, WA.) that they feel a license is more of a detriment to their business than a benefit. As you pointed out agents have all kinds of rules of can't say or do certain things. They can even lose their license for certain activities or comments that we unlicensed investors can get away with. I can't speak for everyone here let alone in Florida. I would definitely ask some investors and realtors down in Florida though.

Steve

__________________

"Do something you LOVE and you will never work another day in your life."
"Nothing can ever stop you without your permission."
"So long as you haven't quit, then you haven't lost."


Legality of Assignment

stevejen wrote:
Hi,

I live in Southern New Jersey and I need to speak with someone here from the area on how to do legal no money out of pocket deals without a real estate agent. Does anyone from NJ know if Assignment contracts are legal in the state of NJ, and is it possible to start doing business without having to pay a lawyer out of pocket right away starting out to legalize the documents needed? Does anyone have any contracts that are already legal in the state of NJ that are needed for and/or assigns or double closes that I can start with that anyone can send me?

Steve B

P.S. Of course when I get some deals and have money then I can get my own Real Estate attorney. This is all just to get started.


Hi Steve B Steve W here lol.

Not only is Assignment of Contract legal in your state but the "Queen of Assignments", as she is sometimes called, Carol Stinson is from New Jersey. I recommend you check out her site at www.realwholesaling.com. You can find documents there as well as a lot of valuable information on assignment deals and other REI subjects. I have it bookmarked.

Another Steve

__________________

"Do something you LOVE and you will never work another day in your life."
"Nothing can ever stop you without your permission."
"So long as you haven't quit, then you haven't lost."


Tip to new members/guests

I just wanted to say that Smurfy made a good comment earlier in this post about searching for answers to questions within the other forums.

While I try to stop by the FAQ once per day to help where I can, I do think you are more likely to find the help you seek if you look for a post within the appropriate subject forum. You will likely find that others have already asked the question you have and many may have given excellent advice you can use.

If you have a very unique question and can't find the subject covered already (though doubtful) you can create a new thread there within the appropriate forum.

Welcome all!
and Thanks Smurfy

Steve

__________________

"Do something you LOVE and you will never work another day in your life."
"Nothing can ever stop you without your permission."
"So long as you haven't quit, then you haven't lost."


first time

Hello My first time here
will take any advice I can get!

Elizabeth


Thank you sooooo much!

Hi Steve,

Thank you soooo much for your help and her web address. I looked at it and saw some great information!! My wife and I were thinking about joining her sales team by filling out her from online!! I also emailed her web address to one of our friends in CA because she works with people nationally.

Steve B


missed event took columbus ohio

i would like to know if there is another event taking place in columbus ohio ?


missed event took columbus ohio

i would like to know if there is another event taking place in columbus ohio ?


need your help

Know what truely matters in life, consume yourself with that, and you shall be disappointed, afraid, or alone. Give your gratitude always, give respect to everyone and you shall never be anything less than what matters the most. Give praiseto the Lord, forgive yourself and others, and with all of this together you will get a taste of what heavens lie ahead.

__________________

Know what truely matters in life, consume yourself with that, and you shall never be disappointed, afraid, or alone. Give your gratitude always, give respect to everyone, and you shall never be anything less than what matters the most. Give praise to the Lord, forgive yourself and others, and with all of this together you will get a taste of what heavens lie ahead.


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